Tax Law (Repeal) (Hansard, 7 July 1987)

HC Deb 07 July 1987 vol 119 c81W 81W

§ Mr. Tim Smith
asked the Chancellor of the Exchequer what would be the cost to the Exchequer of repealing section 37 of the Income Tax and Corporation Taxes Act 1970.

§ Mr. Norman Lamont
I shall let my hon. Friend have a reply as soon as possible.

£ billion

1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 ³1986–87 ⁴1987–88

Income Tax 21.1 24.9 28.8 30.7 31.6 33.2 36.1 38.5 40.0

Value Added Tax 8.2 11.0 11.9 13.8 15.2 18.5 19.3 21.5 23.3

Customs and Excise Duties¹ 9.5 10.5 12.9 13.5 15.5 16.2 17.2 18.7 19.4

£ billion
	1979–80	1980–81	1981–82	1982–83	1983–84	1984–85	1985–86	³1986–87	⁴1987–88
Income Tax	21.1	24.9	28.8	30.7	31.6	33.2	36.1	38.5	40.0
Value Added Tax	8.2	11.0	11.9	13.8	15.2	18.5	19.3	21.5	23.3
Customs and Excise Duties¹	9.5	10.5	12.9	13.5	15.5	16.2	17.2	18.7	19.4